Diesel Prices have dropped to record low for 2018

With the most recent drop in diesel fuel prices for the week of March 5th– March 12th, truckers will be noticing the lowest price points since the New Year, according to the Department of Energy’s latest report.

The average price for a gallon of on–highway diesel in the U.S. is 1.6 cents lower than it was just a week ago, coming in at $2.976. This is the lowest that diesel prices have dropped since the week ending January 1st, a little over two months ago when diesel prices were $2.973 per gallon throughout the U.S.

The region with the biggest drop in prices was in the Lower Atlantic region, where prices dropped 2.3 cents per gallon. But it wasn’t just in the Lower Atlantic region where drivers saw a decrease in the price of diesel, the entire country saw prices fall in every region except for California. In California, the price per gallon remained the same as it had been the week prior.

The area of the country where the lowest diesel prices can be found is in the Gulf Coast region, where the price per gallon is $2.782. The runner up for the nation’s cheapest diesel fuel is the Lower Atlantic region, where prices are at $2.871 per gallon.

So where can truckers expect to pay the most per gallon? California, where prices are $3.652 per gallon, with the next closest region being the Central Atlantic region, with prices at $3.221 per gallon of diesel fuel.

According to the DOE, below are what prices are like in other regions of the country:

·        Midwest – $2.899

·        Rocky Mountain – $2.903

·        West Coast/ Less California – $3.052

·        New England – $3.107

Contributed by Ryan Ward, CNS DOT Consultant & Account Manager

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